Apple shares gain for a fifth session in a row on Thursday, company to introduce rear-facing 3D laser for future iPhone models

According to a report by Fast Company, Apple Inc (AAPL) intends to introduce rear-facing 3D laser technology to one of its 2017 iPhone products in an attempt to expand further into augmented reality. It was in June, when the tech company unveiled an ARKit for developers, while, according to Seeking Alpha, hardware adjustments were still to come.

Apple shares closed higher for a fifth consecutive trading session on Thursday. It has also been the sharpest daily surge since June 28th. The stock went up 1.39% ($2.03) to $147.77, after touching an intraday high at $148.49, or a price level not seen since June 9th ($155.19). In the week ended on July 9th the shares of the technological company added 0.11% to their market value compared to a week ago, which marked the smallest rate of increase in at least a year. The stock has extended its advance to 2.60% so far during the current month, following a 5.72% slump in June. The latter has been the steepest monthly drop since April 2016. For the entire past year, Apple Inc’s shares gained 10.03%.

The 3D laser technology could be added to the premium version of Apples iPhone 8 or to a model that is expected to be released in 2018.

According to CNN Money, the 38 analysts, offering 12-month forecasts regarding Apple Inc’s stock price, have a median target of $165.00, with a high estimate of $202.00 and a low estimate of $120.00. The median estimate is an 11.66% surge compared to the closing price of $147.77 on July 13th.

The same media also reported that 27 out of 43 surveyed investment analysts had rated Apple Inc’s stock as “Buy”, while 11 – as “Hold”. On the other hand, 1 analyst had recommended selling the stock.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, today’s levels of importance for the Apple stock are presented as follows:

R1 – $148.05
R2 – $148.33
R3 (Range Resistance – Sell) – $148.61
R4 (Long Breakout) – $149.45
R5 (Breakout Target 1) – $150.43
R6 (Breakout Target 2) – $150.87

S1 – $147.49
S2 – $147.21
S3 (Range Support – Buy) – $146.93
S4 (Short Breakout) – $146.09
S5 (Breakout Target 1) – $145.11
S6 (Breakout Target 2) – $144.67

By using the traditional method of calculation, the weekly levels of importance for Apple Inc (AAPL) are presented as follows:

Central Pivot Point – $143.96
R1 – $145.52
R2 – $146.85
R3 – $148.41
R4 – $149.96

S1 – $142.63
S2 – $141.07
S3 – $139.74
S4 – $138.40